{"id":80004,"date":"2023-11-02T21:17:41","date_gmt":"2023-11-03T01:17:41","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/t-bill-and-chill-trade-sees-big-influx-from-individual-investors\/"},"modified":"2023-11-02T21:17:44","modified_gmt":"2023-11-03T01:17:44","slug":"t-bill-and-chill-trade-sees-big-influx-from-individual-investors","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=80004","title":{"rendered":"\u2018T-bill and chill\u2019 trade sees big influx from individual investors"},"content":{"rendered":"
\n

Move over Netflix.<\/p>\n

The \u201cT-bill and chill\u201d trade looks like it\u2019s gathering more steam with individual investors, according to Vanda Research.<\/p>\n

The roughly $38.6 billion SPDR Bloomberg 1-3 Month T-Bill ETF
\n BIL
\n just raked in more than $40 million in retail funds on Nov. 1, the biggest one-day influx since Vanda began tracking the data in the beginning of 2014.<\/p>\n

\n
<\/p>\n

<\/p>\n

<\/p>\n<\/figure><\/div>\n

The ETF tracks 1-month
\n BX:TMUBMUSD01M
\n and 3-month
\n BX:TMUBMUSD03M
\n Treasury bills, where yields have shot up with the Federal Reserve\u2019s increases to its short-term policy rate, currently in a 5.25% to 5.5% range, a 22-year high.<\/p>\n

\u201cBIL was not the only ETF experiencing large inflows, however,\u201d the Vanda Research team wrote Thursday, in a weekly note. They also pointed to the battered $41.2 billion iShares 20+ Year Treasury Bond ETF,
\n TLT
\n which \u201ccontinues to see outsized net buying from the retail community\u201d as well as the $34.6 billion iShares National Muni Bond ETF
\n MUB
\n and the $17.4 billion iShares 0-3 Month Treasury Bond ETF
\n SGOV,<\/span>
\n which has an ultra-short duration.<\/p>\n

All four ETFs gained on Thursday, even as the Dow Jones Industrial Average
\n DJIA
\n shot up 1.7% and the S&P 500 index
\n SPX
\n posted a 1.9% gain, its best day in about six months. Stocks rallied as investors appeared more optimistic that the Fed might be done raising rates in this cycle.<\/p>\n

\u201cClearly, income-seeking individual investors are taking advantage of the new high-rate regime, which had been missing from the investment landscape since the pre-GFC years,\u201d Marco Iachini and the Vanda team wrote.<\/p>\n

And it hasn\u2019t been only retail investors flocking to short-term bond funds.<\/p>\n

See<\/strong>: Short-term bonds dominate fixed-income ETF flows again in October \u2014 with a single fund getting outsize portion of investors\u2019 money<\/p>\n

Hedge-fund billionaire Ray Dalio in September said cash is \u201ctemporarily\u201d good. Other heavy hitters, including DoubleLine Capital\u2019s Jeffrey Gundlach, also have been touting short-term Treasurys at 5% yields in recent months.<\/p>\n

However, Gundlach on Wednesday told CNBC that he has grown more worried about the $33.6 trillion national debt and about a potential looming recession, which could spark layoffs and rate cuts.<\/p>\n

The Vanda team said higher bond yields mean \u201cthe bar for equities\u2019 role in a retail portfolio has shifted higher,\u201d but also that the \u201cfirst test will come about when markets start to price in Fed rate cuts more aggressively.\u201d<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Move over Netflix. The \u201cT-bill and chill\u201d trade looks like it\u2019s gathering more steam with individual investors, according to Vanda Research. The roughly $38.6 billion SPDR Bloomberg 1-3 Month T-Bill ETF BIL just raked in more than $40 million in retail funds on Nov. 1, the biggest one-day influx since Vanda began tracking the data […]<\/p>\n","protected":false},"author":1,"featured_media":80005,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-80004","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-markets","tag-featured","post_format-post-format-gallery"],"yoast_head":"\n\u2018T-bill and chill\u2019 trade sees big influx from individual investors | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Move over Netflix. 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